Extracorporeal Membrane Oxygenation Machine Market Trends

Growth Drivers

• Technological advancements driving innovation in the healthcare sector - Technological advancements in medical devices drive innovation in extracorporeal membrane oxygenation machine, enhancing their efficiency, safety, and usability. Additionally, continuous research & development in respiratory diseases resulted in the enhancement of medical oxygen concentrators, reduced hemolysis rates, and enhanced biocompatibility.According to a report, for the past few years, extracorporeal membrane oxygenation machine market’s sales have been experiencing year-on-year increases majorly from the key industry players, which reflects a commitment to technological advancements.
• Global health events - Pandemics emphasize the critical role of extracorporeal membrane oxygenation machine in providing life support during unfavorable conditions. Recently, the COVID-19 pandemic highlighted the utmost importance of advanced respiratory support systems which led to an increase in awareness about the benefits of extracorporeal membrane oxygenation machine, thereby driving their market demand.According to the registry of Extracorporeal Life Support Organization, over 0.1 million patients, have been treated with the help of extracorporeal membrane oxygenation machine in 2020.
• Extensive utilization of ECMO application in trauma cases - The application of extracorporeal membrane oxygenation machine has flourished from cardiac and respiratory cases to trauma patients. Furthermore, extracorporeal membrane oxygenation machine therapy is highly recognized as a valuable tool in offering circulatory and respiratory support to trauma patients who experience severe organ dysfunction.Therefore, expanded application broadens the market potential for extracorporeal membrane oxygenation machine. In addition to this, the ECMO machine market is propelled by a multifaceted set of growth drivers that particularly range from technological metamorphosis to demographic shifts.

Challenges

• High cost associated with ECMO therapy - One crucial challenge for ECMO therapy is its cost value. The preliminary investment and ongoing expenses related to ECMO machine, monitoring equipment, and specialized medical personnel may surpass healthcare budgets.So, this financial burden is expected to limit the accessibility of ECMO therapy, particularly in areas where the resources are very limited regions. Therefore, the cost barrier may hinder the widespread adoption of ECMO machine, restricting their use in healthcare facilities, and leading to disparities in access to advanced life support technologies. As a result, the
• Lack of awareness about extracorporeal membrane oxygenation machine is a significant restraint for the market.
• Also, extracorporeal membrane oxygenation machine have a very complex technology, thereby inefficiency of appropriate training may become a hindrance for the market.